Latest News- Metal Additive Manufacturing Market: Selective laser melting is expected to lead the Type segment during 2025-2029
The Metal Additive Manufacturing Market is being driven by Increased preference for additive manufacturing
The Metal Additive Manufacturing Market is expected to grow at a CAGR of 29.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 18667.9 million. In 2024, the additive manufacturing market witnessed a significant drive towards expanding the scope of printable materials, with a focus on developing new, high-performance substances and enhancing their properties for various applications. Additive manufacturing techniques have gained a strong reputation due to the unique features of 3D printed materials, such as high-performance polymers. These polymers offer unparalleled appeal due to their superior quality outcomes in applications that demand high resistance to heat and stress, as well as the ability to form intricate geometries. Furthermore, metals like steel and titanium are widely utilized in additive manufacturing for industrial applications, providing exceptional benefits in producing robust and durable parts.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Selective laser melting, Electron beam melting) Application (Aerospace, Healthcare, Tools and mold, Automobile, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Metal Additive Manufacturing Market Research Report
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The Metal Additive Manufacturing Market encompasses various industries, including Dental and Academic, Construction, Consumer Electronics, and Wearable Devices. This market utilizes 3D printing technologies such as 3D metal printing with Metal components made from Metal powder, Wire, or Metal sheet. Technologies include Laser and Electron Beam. Customized products and Metal prototypes are common applications, with significant growth in the Aerospace sector for Prototyping and Aerospace Defense. 3D printer software, Additive Manufacturing Technology, Installation Services, Copyrights, Licensing, and Patenting are essential components. Injection Molding and Stereolithography are alternative manufacturing methods.
In the realm of advanced manufacturing, the Metal Additive Manufacturing (AM) market occupies a significant position, encompassing applications in various industries such as Dental, Academia, Construction, Consumer Electronics, Wearable Devices, and more. This market is a segment of the larger Industrial Machinery and Supplies and Components market, which includes companies manufacturing machinery and components for industries like presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio, the global Industrial Machinery and Supplies and Components market size is determined by the combined revenue generated by these manufacturers. Factors driving growth in this market include increasing industrial output and capacity expansions in process and discrete industries, particularly in developing countries, resulting in heightened demand for energy, chemicals, petrochemicals, pulp and paper products, and processed food and beverages. Key 3D printing technologies, including Nano Dimension, Electron Beam Melting, and Intelligent Layering, are revolutionizing manufacturing processes in these industries, with applications ranging from aerospace and automotive to healthcare and consumer goods. CNC machining continues to coexist with AM, providing complementary solutions for complex geometries and mass production requirements.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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